Luxembourg banks seen as nonchalant on cyber compliance
Luxembourg’s financial sector grapples with a stark wake-up call as concerns mount over its nonchalant stance towards impending cyber regulations outlined in the Dora Act; a prominent politician’s apprehensions highlight critical questions surrounding banks’ preparedness and the looming specter of potential sanctions.
Cyber: CSSF echos ‘alarming’ warning on server updates
Luxembourg’s financial supervisor CSSF on Friday brought attention to a warning from the grand duchy’s cyber security authorities which said an “alarming situation” has been created because more than 500 computer servers have not yet been updated with a critical software patch for Microsoft Exchange servers.
A lack of coordination undermines cyber security
For international hackers and data thieves, Luxembourg appears to be attractive as its domestic lack of cooperation undermines its cyber security efforts. “Luxembourg comes onto the radar because some of the systems that we have are vulnerable,” says an expert.